Investors are subject to the same conditions
Foreign investors are subject to the same conditions as German
investors when obtaining licenses or building permits, or apply-
ing for and receiving investment incentives.
Where restrictions exist with respect to a particular business
activity, such as licensing and notifcation requirements (see
below), such restrictions apply to both German and foreign
The July 2006 Takeover Directive Implementation Act amended
the Securities Acquisition and Takeover Act (Wertpapiererwerbs-
und Übernahmegesetz – WpÜG) to bring it into line with the
2004 EU Takeover Directive. The WpÜG now also applies to
As the German Federal Cartel Offce (Bundeskartellamt) aims to
prevent the establishment of dominant market positions, large
frms must register proposed takeover bids in advance, based on
certain criteria. The applicable criteria pertain to global markets.